Can I retire at age 58 with 604,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $604,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%18.9%
1 years$49,878$49,433$49,000$48,577$48,164$46,436
2 years$24,692$24,232$23,786$23,354$22,935$21,214
3 years$16,298$15,836$15,391$14,963$14,551$12,889
4 years$12,102$11,641$11,201$10,780$10,378$8,789
5 years$9,584$9,127$8,692$8,280$7,889$6,377
6 years$7,907$7,453$7,025$6,622$6,242$4,808
7 years$6,709$6,259$5,838$5,444$5,077$3,720
8 years$5,811$5,365$4,951$4,567$4,212$2,931
9 years$5,113$4,671$4,264$3,890$3,547$2,341
10 years$4,555$4,117$3,718$3,353$3,022$1,889
11 years$4,099$3,665$3,273$2,918$2,599$1,536
12 years$3,719$3,290$2,905$2,560$2,252$1,257
13 years$3,398$2,973$2,595$2,260$1,964$1,033
14 years$3,122$2,702$2,332$2,006$1,722$853
15 years$2,884$2,469$2,105$1,789$1,516$707
16 years$2,676$2,265$1,909$1,602$1,340$587
17 years$2,492$2,086$1,737$1,439$1,188$488
18 years$2,329$1,928$1,585$1,297$1,056$407
19 years$2,184$1,786$1,451$1,172$941$340
20 years$2,053$1,660$1,332$1,062$841$284
21 years$1,934$1,546$1,225$963$753$238
22 years$1,827$1,443$1,129$876$675$199
23 years$1,729$1,350$1,043$798$606$167
24 years$1,640$1,265$964$728$544$140
25 years$1,557$1,187$893$664$490$117
26 years$1,481$1,116$828$608$441$99
27 years$1,411$1,050$769$556$398$83
28 years$1,346$989$715$510$359$69
29 years$1,286$933$665$467$324$58
30 years$1,229$881$620$429$293$49
31 years$1,177$833$578$394$265$41
32 years$1,128$788$539$362$239$35
33 years$1,082$747$503$333$217$29
34 years$1,038$708$470$306$196$24
35 years$998$671$440$282$178$21
36 years$959$637$411$260$161$17
37 years$923$605$385$239$146$15
38 years$889$575$361$220$132$12
39 years$856$547$338$203$120$10
40 years$826$520$317$188$109$9
41 years$797$495$297$173$99$7
42 years$769$472$278$160$90$6
43 years$743$449$261$147$81$5
44 years$718$428$245$136$74$4
45 years$694$408$230$126$67$4
46 years$671$390$216$116$61$3
47 years$649$372$203$107$55$3
48 years$629$355$191$99$50$2
49 years$609$339$180$92$46$2
50 years$590$324$169$85$41$2

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 58 starting with $604,000, adding $5,508 every year, while hoping to spend $38,079 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 76/10/14 Blend
57$604,000$604,000$604,000$604,000
58$671,290$639,278$629,916$719,926
59$699,245$630,086$610,502$743,591
60$728,776$619,169$589,162$764,202
61$760,003$606,399$565,790$785,748
62$793,057$591,647$540,278$808,311
63$828,082$574,770$512,510$831,979
64$865,234$555,622$482,367$856,851
65$904,686$534,045$449,724$883,036
66$946,624$509,874$414,451$910,655
67$991,255$482,933$376,410$939,841
68$1,038,802$453,036$335,458$970,744
69$1,089,512$419,986$291,448$1,003,527
70$1,143,654$383,577$244,224$1,038,371
71$1,201,523$343,589$193,622$1,075,478
72$1,263,443$299,790$139,473$1,115,069
73$1,329,769$251,935$81,600$1,157,391
74$1,400,891$199,764$19,819$1,202,717
75$1,477,234$143,005$0$1,251,346
76$1,559,268$81,369$0$1,310,501
77$1,647,507$14,550$0$1,377,270
78$1,742,517$0$0$1,449,127
79$1,844,916$0$0$1,532,914
80$1,955,388$0$0$1,625,050
81$2,074,679$0$0$1,724,561
82$2,203,614$0$0$1,832,136
83$2,343,095$0$0$1,948,531
84$2,494,116$0$0$2,074,578
85$2,657,771$0$0$2,211,192
86$2,835,260$0$0$2,359,378
87$3,027,904$0$0$2,520,242
88$3,237,156$0$0$2,695,001
89$3,464,615$0$0$2,884,993
90$3,712,039$0$0$3,091,690
91$3,981,362$0$0$3,316,711
92$4,274,713$0$0$3,561,839
93$4,594,435$0$0$3,829,035
94$4,943,104$0$0$4,120,457
95$5,323,559$0$0$4,438,482
96$5,738,922$0$0$4,785,723
97$6,192,632$0$0$5,165,061
98$6,688,473$0$0$5,579,664
99$7,230,612$0$0$6,033,021
100$7,823,636$0$0$6,528,973